Ceres Power (LON:CWR) Shares Down 8.7% – Time to Sell?

Shares of Ceres Power Holdings plc (LON:CWR) fell 8.7% during mid-day trading on Thursday . The stock traded as low as GBX 312 and last traded at GBX 314.20. 5,523,817 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 7,909,516 shares. The stock had previously closed at GBX 344.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 530 price target on shares of Ceres Power in a report on Thursday, March 26th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 495.

Ceres Power Price Performance

The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of £598.06 million, a PE ratio of -12.52 and a beta of 1.81. The firm has a 50 day moving average price of GBX 310.89 and a 200 day moving average price of GBX 285.85.

Ceres Power (LON:CWR) last posted its quarterly earnings data on Thursday, March 26th. The company reported GBX (24.52) EPS for the quarter. Ceres Power had a negative return on equity of 39.26% and a negative net margin of 145.65%. Research analysts anticipate that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current year.

About Ceres Power

Ceres is a leading developer of clean energy technology: electrolysis for the creation of green hydrogen and fuel
cells for power generation. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Bosch, Doosan, Delta and Weichai. Ceres’ solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high-efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, ammonia and future fuels.